Preparers tie huge fees to returns that may hurt your wallet

10:20 PM,
Mar. 21, 2013

Bank 2011 tax forms are seen at an H&R Block in Rockville, Md., on Friday, Jan. 6, 2012.

Written by

Jeff Reeves
| USA Today

You have a stack of tax paperwork, but lack the time or knowledge to figure things out. There's a tax preparation joint nearby offering to do the work for you and simply deduct the cost of the preparation service (plus a fee) from your anticipated return.

The plan may sound logical if you're a cash-strapped consumer. But beware.

"For many Americans, this is the most important financial transaction they will make all year," said Chi Chi Wu, staff attorney at the National Consumer Law Center. ...